Makina: The hack only affected DUSD/USDC pool users and a snapshot was taken before the incident

On April 3rd, per data from Greeks.live: - 28,000 Bitcoin (BTC) options are expiring today. The put-call ratio stands at 0.54, the maximum pain point is $68,000, and the notional value totals $1.8 billion. - Additionally, 156,000 Ethereum (ETH) options are expiring today. Their put-call ratio is 0.73, the maximum pain point is $2,075, and the notional value is $320 million. Greeks.live analyst Adam noted that today marks the first weekly expiration following the quarterly expiry. Bitcoin options’ market share has hit a new high, clearly exceeding 80%. In terms of maturity, the most widely held options right now are for late April and late June—each around 23%. Ethereum’s options are more concentrated, with the largest share (roughly 30%) in June contracts, pointing to stronger trading activity in Bitcoin options. The market remains relatively weak: a minor rebound is quickly followed by a drop back to $66,000. Crypto trading activity is still muted, and we’re seeing typical b

On April 3rd, HyperInsight monitoring (via its Telegram channel at https://t.me/HyperInsight) reported that amid ongoing fallout from the Drift theft incident—coupled with Jupiter’s official statement that the platform was unaffected by the event—some funds may have flowed out via Jupiter. This triggered a temporary surge in trading volume, pushing JUP up 3.1% with its high briefly topping $0.16. During this period, a whale with an address starting with 0x8b0 on Hyperliquid fully closed out its JUP short position in half an hour, incurring a loss of approximately $33,700 at a liquidation price of $0.1625. The position had a notional value of $1.22 million prior to liquidation, making it the platform’s largest short-position whale.

On April 3rd, CryptoQuant analyst Darkfost noted that Bitcoin’s current profit supply stands at roughly 11.2 million coins, while its loss supply is around 8.2 million—levels approaching typical bear market ranges. By comparison, at the 2022 bear market low, profit supply was 9 million coins and loss supply hit ~10.6 million. Darkfost argues this signals the market is entering a "significantly undervalued state," with a potential bottom near. However, Bitrue research director Andri Fauzan Adziima contends the data reflects "rising market pressure, not immediate undervaluation." A true bottom, he says, would require deeper losses: e.g., loss supply exceeding 50% of total circulating supply and profit supply dropping below 45%. Currently, Bitcoin is down ~52% from its all-time high—far less than the 77%-84% drawdowns seen in prior bear markets. Additionally, analyst Timothy Peterson points out that a stronger U.S. dollar (the U.S. Dollar Index has climbed ~5% in two months) and

April 3: Drift announced via official social media that its team has identified key details about those involved in the security breach. We’re currently sending an on-chain message to the ETH wallet holding the stolen funds and are open to communication. Please reach out via Blockscan Chat.

On April 3rd, data from Coinglass and Hyperinsight Monitoring (Telegram: https://t.me/HyperInsight) shows the XPL token price saw sharp overnight volatility. Between 1:00–5:00 AM, XPL surged 42% in a straight line to a high of $0.167. But starting at 5:10 AM, it plummeted over 40% in less than 5 minutes—dropping below $0.12 and erasing all intraday gains. Ahead of the spike, five new Hyperliquid addresses simultaneously deposited funds around 1:00 AM: each transaction exceeded $200k, totaling ~$1.292 million. They then heavily opened leveraged XPL long positions, likely coordinating with buy orders on other platforms to pump the price. During this run, the five addresses racked up massive unrealized profits, more than doubling their initial capital. Between 4:30–4:40 AM, the five addresses quickly withdrew all deposited margins plus gains—pushing their liquidation price sharply higher, near the threshold. At 5:10 AM, they were simultaneously liquidated at ~$0.12971, triggering

April 3rd – Chloe (@ChloeTalk1), a columnist for HTX DeepThink and researcher at HTX Research, noted that a critical shift in the macro environment followed former President Donald Trump’s latest national address on Iran. The market has transitioned from being driven by “high interest rates + inflation constraints” to a new phase marked by “geopolitically driven supply shocks + policy uncertainty.” Oil prices rallied past $100 (WTI crude topping $103), the risk premium for the Strait of Hormuz surged, and U.S. Treasury yields climbed in tandem. Markets interpreted this as a mix of “stickier inflation and a longer tightening cycle,” forming a dual negative feedback loop of tightening liquidity and higher discount rates for risk assets. For the crypto market, the key question is whether global risk appetite has contracted. Oil price gains are essentially a reallocation of global liquidity: more capital is being passively deployed to hedge energy costs and inflation, reducing margin